Skandinaviska Enskilda Banken AB publ Has $20.35 Million Stake in Deere & Company (NYSE:DE)

Skandinaviska Enskilda Banken AB publ lowered its position in Deere & Company (NYSE:DE) by 51.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,469 shares of the industrial products company’s stock after selling 56,695 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Deere & Company were worth $20,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the period. Brevan Howard Capital Management LP increased its stake in shares of Deere & Company by 857.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after buying an additional 6,855 shares during the period. Aviance Capital Partners LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $2,783,000. Finally, Oxford Financial Group LTD. LLC increased its stake in shares of Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock valued at $731,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of several recent research reports. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial reissued a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Oppenheimer decreased their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $409.88.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Deere & Company Price Performance

Shares of DE opened at $405.89 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The business’s fifty day moving average is $376.24 and its 200 day moving average is $382.66. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $111.85 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.